Global Income Gap Growing

02/27/2007

Education is when you read the fine print. Experience is what you get if you don't.
Pete Seeger

A new global study of personal wealth shows that the richest 2% of adults now own more than half of global household wealth. The study, conducted by the World Institute for Development Economics Research of the United Nations University in Helsinki, Finland, and reported in Yes! magazine (Spring 2007; www.yesmagazine.org), was based on data from the year 2000. The researchers found that the richest 1% controlled 40% of global assets, and that the richest 10% of adults, owned 85% of all assets. In the USA, the richest 10% of adults controls 70% of all wealth.

On the other hand, the poorest 50% of the population own barely 1% of global wealth! And, the income gap is growing: While the median wage income grew by only 11% worldwide between 1966 and 2001, the wealthiest 10% of the adult population saw an increase of 58%.

Nursery Maid - Our Prices include FREE SHIPPING! Quality Furniture for Childcare Centers Because Children Deserve the Feel of Home. Visit our website to see our award winning Cribs, Evacuation Cribs, Playlofts and more.

For more information about Exchange's magazine, books, and other products pertaining to ECE, go to www.ccie.com.